Posted: 02.03.21 at 16:49 by The Editor
CONWY Nub news takes a look at the final budget signed off by the Welsh Government today.
The new budget has rubber stamped an injection of £224.5 million capital funding to support reconstruction efforts and stimulate demand and jobs.
This investment includes an additional £147 million to ramp up housing programmes and an extra £30 million to accelerate the 21st Century Schools and Colleges Programme, helping to support economic growth, sustainable jobs and training opportunities across the sector.
The new package also boosts the significant investment dedicated to flood and coastal defence in this Senedd term.
An extra £8 million will be invested to help local authorities and Natural Resources Wales repair the damage caused by flood events in December and January and protect communities at risk of flooding.
In recognition of the benefits active travel delivers to employment, education, key services, and bringing communities together, the government is allocating an additional £20 million to further extend infrastructure and enable the delivery of new schemes. This takes total planned 2021-22 investment for active travel to around £75 million.
The Final Budget also confirms more than £630 million to support NHS and local government over the next six months as they continue to respond to the pandemic.
It t also sets aside £200 million in reserves for additional business support next year to respond to the evolving challenges of the pandemic.
Finance Minister Rebecca Evans said: “The Budget I have published today provides our economy with an investment to help inject jobs and demand into a recovery that takes root today. It also provides the NHS and local government with the certainty they need to respond to the next phase of the pandemic.
“We know that our hardest hit businesses need certainty too. That’s why we repurposed budgets to provide more funding for business support in Wales than we received as a share of the package in England. We will provide further clarity when our funding position is absolutely guaranteed.
“When the Chancellor confirms the funding Wales will get as its share of the English position on rates relief for next year, I will announce the next steps for Wales.
“Today’s measures build on a budget designed to protect public services and our economy, build a greener future and create change for a more equal Wales.”